Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Strategy Briefing

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2017 marks a decade since the global financial crisis and subsequent downturn that had a lasting impact on the way people think, spend and shop. While emerging and developing markets fared best in terms of economic growth, their expansion has slowed and a new generation of young, middle class consumers are reassessing their values and priorities. This second of two reports focuses on income and expenditure patterns, and attitudes towards spending, saving and borrowing in key emerging markets.

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Spending impacted by economic and social change

Consumer spending in emerging and developing markets was shaped over the decade of 2007-2017 by a number of key factors including strong income growth, the rise of the middle class, globalisation, the sophistication of shopping habits and rapid technological progress.

Rising incomes

Over the decade to 2017, real incomes continue to grow at healthy rates in emerging and developing markets, with China in particular enjoying a spectacular rise. However, in line with slowing economic growth, income gains will moderate through to 2030.

Improving income inequality

Although income equality remains high across emerging and developing economies, many countries have witnessed some improvements in income distribution over the period of 2007-2017 largely as a result of continued economic expansion and better social policies.

Expanding middle class

Even as middle classes in the developed world find themselves squeezed as a result of the global financial crisis, emerging market middle classes continue to expand during the decade through to 2017. The middle class accounts for a substantial share of consumer expenditure in many emerging markets.

Savvy shoppers, living for the moment

As in developed countries, shoppers in emerging markets are more savvy and better informed than ever before, largely due to the development of e- and m-commerce. The emphasis has shifted from lowest pricing to best value for money. Consumers in emerging markets are also adopting a mentality that prioritises quality of life over money, and experiences and memories over material goods.